Leasehold valuation calculator updated

LEASE have announced that their lease extension calculator has been updated. The tool, which is reviewed annually, was last updated in January 2017. It provides an estimated range of the cost of extending the lease of a flat. This is intended to support leaseholders in their initial consideration of costs and is not a replacement for professional advice.

LEASE is an independent body funded by the Ministry of Housing, Communities and Local Government and the Welsh Government. They provide free advice on residential long leaseholds and park homes law for residential leaseholders and park home owners.

Interim chair Wanda Goldwag commented on the updated noting that the organisation was there to “… help leaseholders to have informed discussions with their professional valuer when they start the lease extension process and we hope that by providing this tool we can assist lay people in what is a very complex area.”

LEASE also provides further guidance on extending leases on their website.